Tycoon scam: Company owners arrested

Thiruvananthapuram: The company owners who are the main accused in the400 crore Tycoon money chain scam were arrested from Chennai. The investigation team led by DySP P Sadanandan nabbed Kamala Kannan and Sadhashivam who are domiciles of Tamil Nadu. The criminals shall be brought to Kozhikode for further interrogation.

The police have been attempting to capture the con men for the past two months. They have swindled money from people especially in and around Kozhikode, Malappuram and Palakkad districts. Ordinary people who were cheated complained to the police and the case was registered. Investigation began based on their complaint. 9 others involved in the case were arrested earlier. The police then began their search for the king pins of the scam.

They had worked under the banner of Tycoon Empire in 2009.The company was registered under a fake address. The bank accounts were also created based on fake documents. The police have freezed their accounts.